Effect of proper deposits

The deposit of State Treasury funds in accordance with §§ 19-3-507 - 19-3-516 relieves the Treasurer of State and the surety on the Treasurer of State's bond of liability for the loss of the funds by reason of the default or insolvency of a bank depository. Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013. Acts 1997, No. 847, § 1. The deposit of State Treasury funds in accordance with §§ 19-3-507 - 19-3-516 relieves the Treasurer of State and the surety on the Treasurer of State's bond of liability for the loss of the funds by reason of the default or insolvency of a bank depository. Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013. Acts 1997, No. 847, § 1.